New Mountain Finance Corporation $NMFC Stock Position Lifted by Naviter Wealth LLC

Naviter Wealth LLC raised its stake in New Mountain Finance Corporation (NASDAQ:NMFC) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 205,757 shares of the company’s stock after buying an additional 8,080 shares during the quarter. Naviter Wealth LLC owned 0.19% of New Mountain Finance worth $2,171,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. MAI Capital Management increased its stake in shares of New Mountain Finance by 44.9% in the first quarter. MAI Capital Management now owns 7,295 shares of the company’s stock worth $80,000 after acquiring an additional 2,261 shares during the last quarter. Quarry LP grew its stake in New Mountain Finance by 360.7% in the first quarter. Quarry LP now owns 8,095 shares of the company’s stock valued at $89,000 after purchasing an additional 6,338 shares in the last quarter. Entropy Technologies LP acquired a new position in New Mountain Finance in the 1st quarter worth about $130,000. Truist Financial Corp purchased a new stake in shares of New Mountain Finance during the 2nd quarter worth about $167,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of New Mountain Finance during the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 32.08% of the company’s stock.

Insider Activity

In other New Mountain Finance news, Director Steven B. Klinsky bought 106,691 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was purchased at an average price of $9.78 per share, for a total transaction of $1,043,437.98. Following the purchase, the director directly owned 4,370,857 shares in the company, valued at $42,746,981.46. This trade represents a 2.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Adam B. Weinstein bought 49,750 shares of the stock in a transaction on Monday, September 15th. The stock was acquired at an average cost of $10.03 per share, for a total transaction of $498,992.50. Following the acquisition, the executive vice president directly owned 652,490 shares in the company, valued at approximately $6,544,474.70. The trade was a 8.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 157,191 shares of company stock valued at $1,550,035 in the last three months. 11.71% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on NMFC. Weiss Ratings reissued a “hold (c-)” rating on shares of New Mountain Finance in a research note on Wednesday, October 8th. Oppenheimer set a $11.00 target price on shares of New Mountain Finance and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. New Street Research set a $10.00 price target on shares of New Mountain Finance in a research note on Friday. Finally, Bank of America reaffirmed an “underperform” rating and issued a $10.00 price objective (down previously from $11.75) on shares of New Mountain Finance in a research note on Monday, September 15th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, New Mountain Finance presently has an average rating of “Reduce” and a consensus target price of $10.50.

New Mountain Finance Price Performance

Shares of New Mountain Finance stock opened at $9.29 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.35. The firm has a fifty day simple moving average of $10.06 and a 200-day simple moving average of $10.27. The stock has a market capitalization of $988.08 million, a price-to-earnings ratio of 12.22 and a beta of 0.79. New Mountain Finance Corporation has a 1-year low of $8.84 and a 1-year high of $12.05.

New Mountain Finance (NASDAQ:NMFC) last posted its earnings results on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $83.49 million for the quarter, compared to analyst estimates of $84.57 million. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. During the same period last year, the business posted $0.36 EPS. On average, sell-side analysts expect that New Mountain Finance Corporation will post 1.39 earnings per share for the current year.

New Mountain Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.32 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.8%. New Mountain Finance’s payout ratio is presently 168.42%.

About New Mountain Finance

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.